August Voice 2011

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The Voice is online at rockfordchamber.com

MRS. FISHER’S CELEBRATES 80 YEARS

BACK TO SCHOOL

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MUNICIPALITIES JOIN TO URGE SIGNING OF CASINO BILL

August 2011 | Volume 24 | No. 8

Chicago Fed forecasts solid growth in 2011, 2012 Manufacturing picks up pace “Great Recession” lasted six quarters, beginning in the first quarter of 2008 and bottoming out in the second quarter of 2009. What does the future hold for the U.S. economy? The Federal Reserve Bank of Chicago published in its August, 2011 Chicago Fed Letter reviews of the economic forecasts for 2011 and 2012 given at the 2010 Automotive Outlook Symposium (AOS). More than 90 economists and analysts from business, academia and government attended the event on June 2 to 3 in Detroit.

By William A. Strauss, senior economist and economic advisor, and Norman Wang, associate economist According to participants in the Chicago Fed’s annual Automotive Outlook Symposium, solid economic growth is forecasted for the nation this year and in 2012. Inflation is expected to rise in 2011 and then ease in 2012, and the unemployment rate is anticipated to move lower, but remain high by historical standards through the end of 2012. Light vehicle sales are forecasted to improve in 2011 and 2012. The U.S. economy still is recovering from the longest and deepest drop in economic activity since the Great Depression. The “Great Recession” lasted six quarters, beginning in the first quarter of 2008 and

bottoming out in the second quarter of 2009. During the seven quarters following the end of the recession, the annualized rate of real gross domestic product (GDP) growth was 2.8 percent — roughly in line with what is considered the historical trend rate of growth for the U.S. economy. But this GDP growth rate is very disappointing, given that real GDP fell from its peak by more than 4 percent during the Great Recession.

Pace of Recovery Slowed by Financial Crisis Usually, the pace of economic recovery is quite sharp following a deep recession. Consider what happened after the deep drops in economic output more on page 8

Time out to strengthen business Third woman chosen for ATHENAPowerLink® By Barbara Connors

Visit us online at: rockfordchamber.com ■ online registration ■ keynote speaker video clips ■ event photos ■ list of Chamber events Questions? 815-987-8100 Join the Chamber’s LinkedIn Group www.linkedin.com/e/gis/2544

On June 23, Kristan McNames, coowner of Grace Funeral & Cremation Services, 1340 S. Alpine Road, learned she was the third woman chosen for ATHENAPowerLink® (APL). The mentoring program pairs one woman entrepreneur with a panel of business experts at no charge for one year to grow her company. The Rockford program is a partnership between the Rockford Chamber of Commerce and ATHENA International and is co-hosted by PNC Bank. The year-long professional consulting package is valued at $40,000. “I am so honored and excited to have been selected for this program,” McNames said. “I’m hoping to bounce ideas off of the panel, and am open to whatever insight and direction they can provide.” McNames co-owns her funeral home with her husband Bob. She meets with

Municipalities throughout the Rockford region joined forces to send a message to Illinois Governor Pat Quinn that a casino in Rockford would benefit all of Winnebago County. Leaders from the City of Loves Park, Village of Machesney Park, Village of Pecatonica, City of Rockford and Winnebago County held a news conference to announce their joint support for Senate Bill 0744, which opens the door for a casino in Rockford. Additionally, the community of South Beloit passed a measure approving a resolution in support of a casino. Community leaders pointed out that building a casino would generate an estimated 300 construction jobs. Once a casino was operating, there would be an additional 1,300 jobs. Some would be low-skill jobs like cleaning crews and wait staff. Others would require more training like management, accounting and marketing. It’s also estimated a casino would generate $7 to $12 million in revenue that could be strategically leveraged for economic development. The Rockford Casino Coalition founding partners represent more than 1,500 organizations and their 60,000 employees. For more, visit the coalition’s Facebook page, Rockford Casino Coalition, or www.rockfordcasinocoalition.com.

MARK YOUR CALENDAR!

Mayor’s Business Luncheon Clock Tower Resort Wednesday, August 10 RPD FOUNDATION OUTLINES STRATEGIC PLAN

Kristan McNames families to assist in planning a funeral or memorial service that’s a fitting tribute to loved ones. “Ninety percent of what I do as a funeral director is behind the scenes. My goal is to have each service be flawless and as perfect as possible. Unlike other milestone events in life, we have more on page 4

The Rockford Park District Board of Commissioners approved the Rockford Park District Foundation priorities for the next three years include fundraising to support: Fun for All Kids, a youth programming endowment, a free family event, and a child to participate in a summer camp, program or lesson. Specific capital requests for 2012-2014 include boat docks for the Nicholas Conservatory and Burpee Museum of Natural History; winter activities for Alpine Hills Golf Course Complex; the Chuck and Becky Brown Memorial, which would provide lighting on the Auburn Street bridge; Sinnissippi Riverfront recreation, and a wood basketball court for Washington Park Community Center.


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August Voice 2011 by Greater Rockford Chamber of Commerce - Issuu